Email received today from
“As you probably know, if you exchange more than our free exchange limit in a month, you pay a fee. This limit is decreasing to 1000 EUR each month (which, our research shows, most of you won’t hit anyway). Above that limit, our fee will stay the same at just 0.5%, and we’ll let you know if an exchange will be subject to a fee. Our Premium and Metal plans still have unlimited exchange, as they always have.”
That’s a reduction from 6,000€ per month!
I consistently exchange over £1,000 per month in the app to Euro from my UK Pensions. How much that achieves is based on the exchange rate. Does this mean that (nominally based on last year’s av of £1.00 = 1.14€) I will pay a 0.5% fee on the addition in excess of 1,000€ transferred from sterling within the app?
Not all of the Euro is transferred then to my French bank a/c (typically between 500€ and 1,000€). Will I also pay a fee on those transactions too?